The global microcatheter market is projected to reach USD 1,082 million by 2027 from USD 828 million in 2022, at a CAGR of 5.5% during the forecast period. This is attributed to the rising prevalence of cardiovascular and neurovascular diseases, an increasing number of invasive diagnostic and therapeutic procedures, and increased pharmaceutical and biotechnology industry research activities. Increasing sedentary lifestyle and advancements to replace open surgeries.
The microcatheter market is moderately competitive, with both established companies and upcoming competitors for the same market share. As of 2021, the key players operating in the global microcatheter market are Boston Scientific Corporation. (US), Stryker Corporation (US), Teleflex Incorporated (US), Cook Group (US), Becton Dickinson and Company (US), Asahi Intecc Co.ltd (Japan), Terumo Medical Corporation (Japan), Medtronic (US), Teleflex Incorporated (US), Johnson & Johnson(US), Penumbra(US), Cardinal Health (US), Kaneka Corporation( Japan).
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To further increase their market share in the global microcatheter market, these competitors have utilized a variety of strategies, including acquisitions, agreements, partnerships, and product releases. In 2022, a higher share of the global microcatheter was held by Boston scientific corporation(US), Stryker(US), Asahi Intecc Co.Ltd (Japan), Teleflex Incorporated (US), and Terumo Medical Corporation (Japan).
Boston Scientific is a prominent manufacturer of microcatheters. It is also involved in the development, and marketing. The company manufactures microcatheters used in interventional cardiology, gastroenterology, structural heart, and vascular surgery. The company operates through three business segments namely Cardiovascular (Interventional Cardiology, Peripheral Interventions), MedSurg (Endoscopy, Urology and Pelvic Health and cardiac rhythm management) and Rhythm Management (Cardiac Rhythm Management, Electrophysiology and Neuromodulation)
Stryker is one of the leading medical technology companies and is dedicated to helping healthcare professionals to enhance patient’s care. Stryker operates its business through four divisions namely Orthopedics, Medsurg, Neurotechnology and Spine. Some of the Key products offered by the company include implants used in joint replacement, surgical equipment and endoscopic and communication systems, patient handling and emergency medical equipment.
Microcatheter Market by Type (Delivery, Diagnostic, Aspiration, Steerable), Design (Single, Dual), Application (Cardiovascular, Neurovascular, Peripheral Vascular, Oncology), End-User (Hospital and Ambulatory Surgical Centers) - Global Forecasts to 2027
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